Iowa · Nonprofit
COVENANT MEDICAL CENTER INC
COVENANT MEDICAL CENTER INC (Iowa) receives grants from 5 organizations whose IRS filings report $298,893 to it, the largest being CEDAR VALLEY UNITED WAY ($124,564). 2 of them have funded it in more than one year.
- Revenue FY2025
- $436M
- Funders on record
- 5
- Grants received
- $299k
- Net assets
- $216M
What Covenant Medical Center Inc does
Mission
We, covenant medical center and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. Covenant medical center is a member of trinity health.
As stated on its FY2025 Form 990.
Program
Covenant medical center in waterloo, iowa (mercyone waterloo) is a 346-bed, full-service, multi-specialty hospital that provides inpatient and outpatient health care services to support the community's health care needs. Services provided include intensive care; operating and recovery rooms for both inpatient and outpatient surgeries and procedures; an accredited rehabilitation program serving inpatients; accredited cancer and breast care centers; women's health care services including ob/gyn and midwifery, birth center, and the area's only level ii neonatal intensive care program; comprehensive imaging and radiology services; laboratory; respiratory therapy; cardiovascular services, including general interventional cardiology and electrophysiology and an accredited chest pain center; and inpatient and outpatient behavioral health services.mercyone waterloo also has physician practices with primary care and specialty physicians, physician assistants, nurse practitioners and numerous health care professionals who share the common goal of providing quality integrated health care services to individuals throughout northeast iowa. Please see schedule h and visit our website for…
$358,316,631 spentof which $269,324 as grants$429,454,042 earned by the program100% of program spending
The program described on its FY2024 Form 990. Program spending in total: $358,316,631.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2024 to 2025, from $245M to $443M (+81%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 0% · 2018 0% · 2019 0% · 2020 6% · 2021 3% · 2022 0% · 2023 0% · 2024 0% · 2025 0%. Grants only. Government contracts and fees sit inside program revenue.
0% of COVENANT MEDICAL CENTER INC’s revenue is contributions — about as donation-reliant as the typical peer (1% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 4 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Who funds it, year by year
2017 → 2023: the base held at 2 funders, grant income rose $22k → $42k.
Left out of every figure on this page: $8.6M from one payer (the payer shares this organization's board, largest Covenant Foundation Inc). These are real filings, and they are not money COVENANT MEDICAL CENTER INC raised.
From the IRS filings of COVENANT MEDICAL CENTER INC’s funders (the co-funder graph). Top 4 of 5 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
COVENANT MEDICAL CENTER INC leans on a few funders — its largest provides 42% of grant income and the top three 99%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
100% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund COVENANT MEDICAL CENTER INC.
Largest funder’s share by year: 2017 100% · 2018 100% · 2019 100% · 2020 86% · 2021 100% · 2022 100% · 2023 73% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
69% of COVENANT MEDICAL CENTER INC's grant income comes from Iowa funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
COVENANT MEDICAL CENTER INC runs a healthier operating margin than half of the 1,241 health nonprofits its size.
this organization peer median middle 50% of peers· 1,241 health nonprofits over $100M, FY2025
Government funding COVENANT MEDICAL CENTER INC receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $179k on record.
- Corporation for National and Community Service$160k
- Department of Defense$19k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like COVENANT MEDICAL CENTER INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Iowa
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
88% of spending goes to programs.
Governance
Footprint & structure
Part of a family of 310 related entities
- Advantage Healthsaint Mary's Medical Group · exempt
- Allegany Franciscan Ministries Inc · exempt
- Asylum Hill Family Medicine Center Inc · exempt
- Baum Harmon Mercy Hospital · exempt
- Baum Harmon Mercy Hospital and Clinics Foundation · exempt
Screen this organization
A dated, signed PDF of the compliance screen for COVENANT MEDICAL CENTER INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds COVENANT MEDICAL CENTER INC?
- COVENANT MEDICAL CENTER INC (Iowa) receives grants from 5 organizations whose IRS filings report $298,893 to it, the largest being CEDAR VALLEY UNITED WAY ($124,564). 2 of them have funded it in more than one year.
- How many funders does COVENANT MEDICAL CENTER INC have?
- IRS filings report 5 organizations giving $298,893 in grants to COVENANT MEDICAL CENTER INC, 2 of which have funded it in more than one year.
- Who is the largest funder of COVENANT MEDICAL CENTER INC?
- CEDAR VALLEY UNITED WAY is the largest funder on record, with $124,564 in grants. The full list of funders is on this page.
- How can an organization like COVENANT MEDICAL CENTER INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Iowa. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 5 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing